%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% Mr Bryce; a] If you really believed ''a'' why trade/invest???????????????????????,LOL Actually TA does not predict, its about probabilities+ plenty of money has been made with low probabilities, NOt a prediction;LOL but true [c]Why dont you read study all books by Jack Schwager+ make up you own mind ???HINT if you think education -reading is exspensive try ignorance/leveraged ignorance!!!!! Wisdom is profitable to direct[ a book quote] Tough business; smarter you are the longer it takes, a Chicago trader said[book quote, but true]
One thing I've noticed in this thread is that I didn't realize how much of a rabbit hole that point about the efficient market hypothesis was. In fact, it's clear I was naive not only to its truthfulness, but also to its implications, were it to be true. What I thought was that the efficient market hypothesis was a score for technical analysis and a score against fundamental analysis. I now see that if markets were efficient it would be a score against all analysis. So I recant my prior statement about the efficient market hypothesis making sense. At the same time, I still see that there are many conflicting views about paths to success in trading. The material presented earlier definitely helps in identifying what I can do to understand what "works" for me. Thanks again.
Any appetite for risk is foolish â and will end up biting you in the ass Side note; Losing trades are only the very smallest tip â of a rather enormous risk iceberg - lying in wait to sink you We are risk managers - first..., foremost..., always However disciplined or wary you think you are âyouâre not nearly enough of either at this point Hereâs how itâll manifest Things will go along swimminglyâ¦. youâll be thinking â I got this - dum dee dum dee doo doo dee Then.., the mkt will evolve into a totally unfamiliar and unfriendly-er mistress Itâll test you in ways.., and degrees you canât even fathom Survive those times â then youâll understand what discipline is - and the level necessary No need me further wasting your.., or my time trying to convince / explain it â mkt is the best teacher ================== As for what to listen to/ read Trust no one â except â price & yourself Get your head screwed on straight â âTrading in the Zoneâ (douglas) Learn a few PA concepts / set ups â âforex price scalpingâ (volman) / âreading price bar by barâ (brooks â though his stuff is harder than hell to read) NOTE: I did not say â try to emulate either author â I said; learn the concepts one / both have written about Start a journal The best sourceâ¦, bar none â fire up a chart and watch it â day in / day out â till price speaks to you Successful Journey Sir RN
The holy grail is that there is no holy grail. You do the best you can, avoid repeating mistakes, and don't bother picking absolute market bottoms or tops - a sense of hubris and risk adversity will do you well in this regard. Let the deep pockets turn the market for you (and me), take your brief ride on their coat tails, then take your modest profit and wait for the next such opportunity. Let it be known that some of the longest-lived species on planet earth are opportunistic ambush predators who lie in wait for opportunities ( think salt water crocodile). Note that the predators whose evolution puts them in the position of chasing down prey choose the weak and the sick and the young for food first. Finally, if you require certainty you're in the wrong line of work - get a government job. Nobody knows wtf is going to happen 5 minutes from now, much less 5 hours or 5 months.